Bangkok--7 May--124 Communications Consulting
Global Power Synergy Public Company Limited (“GPSC”) recently announced its performance in the first quarter of 2015, in which it succeeded tremendously. Its total revenue was 6.473 billion baht, a 30.04% increase from 4,978 million baht in the same period last year. Meanwhile, its net profit jumped from 98 million baht to 531 million baht, an impressive 444.6% increase.
GPSC’s total revenue in the first quarter of 2015 was 6,473 million baht, a 30.04% increase from 4,978 million baht in the same period of last year. The growth was thanks to the increase in its electricity sale, as in the first quarter of 2014, the power plant in Sriracha temporarily stopped its operation for scheduled maintenance. This year, the power plant in Sriracha is back to its full capacity, resulting in bigger revenue recognition.
Since the power plant in Sriracha can generate and distribute electricity in its full capacity, the performance of the company improved, and the profit also increased. Its initial profit increased from 210 million baht in the first quarter of 2014 to 673 million baht in the same period this year, increasing its profit percentage from 4.28% to 10.48%.
Additionally, GPSC also received shared profits from its investments and joint ventures. In the first quarter of 2014 and 2015, the shared profits were 44 million baht and 84 million baht respectively, or an 89.22% increase. This is due to the revenue recognition of the solar energy project it invested in, which began its commercial operation in the first quarter of 2015.
These factors contribute to the growth of its net profit, which increased from 96 million baht in the first quarter of 2014 to 531 million baht in the first quarter of 2015, or a 444.6% increase.
GPSC President Noppadol Pinsupa expressed his confidence that the significant growth of the company was a result of the employees’ and executives’ dedication and the effort they have put into the improvement of the company. The performance is good news for the shareholders and will help investors feel more confident about the company in the future.